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Adapting Economic Strategies in Recessionary Times: Insights from John Adams Seminar, 2009

Explore contrasting strategies for sustainable economic growth presented at the Queen’s University seminar by John Adams in June 2009. Delve into the reserved approaches regarding economic and monetary policies, response to the recession, boosting demand, improving services, and more. Analyze the impact of devolution in a downturn and the divergent industrial policies affecting employment rates and GVA per head. Learn about the challenges posed by the credit crunch and the interconnected economies, highlighting the need for innovative solutions. Discover how decisions on fiscal policies, capital spending, and skills development play a crucial role in shaping economic prosperity amidst challenges.

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Adapting Economic Strategies in Recessionary Times: Insights from John Adams Seminar, 2009

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Presentation Transcript

  1. Devolution in a downturnDivergent approaches to sustainable economic prosperity? John Adams ippr seminar Queen’s University, Belfast, 22 June 2009

  2. Employment rates

  3. The response to the recession • Economic and monetary policy reserved • Fiscal policy reserved • Approach of the DAs • Boosting demand • Bring forward capital spending, defer NNDR • Improving services • Skills and apprenticeships • Triage, eg ProAct • Partnership approach

  4. The response to the recession • Common approach • Co-operative approach • Does the credit crunch and the recession expose the dangers of the small country model? • The affordability of recapitalisation • Inter-connected economies • Monetary policy and the exchange rate

  5. Divergence and Difference in Industrial Policy • Some divergence • Picking winners • ‘Competitive’ tax rates • Much convergence • High-value, high productivity • Business support and enterprise • Innovation • Key sectors • Outcomes

  6. GVA per head

  7. Employment rates

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